Case Study of Iview Cameras

Topics: Target market, Target, Market Pages: 7 (1713 words) Published: January 26, 2011
Case Study of IView Cameras
First Screen
Part 1: Strength of business idea
| | Low Potential (-1)| Moderate Potential (0)| High Potential (+1)| 1.| Extent to which the idea: * Takes advantage of an environmental trend * Solves a problem * Addresses an unfilled gap in the marketplace| Moderately timely Weak | Moderate | Strong (+1)

Strong |
2.| Timeliness of entry to market| Not timely| Moderately timely| Very timely (+1)| 3.| Extent to which the idea “adds value” for its buyer or end user| Low| Medium| High (+1)

Not very satisfied or ambivalent

Small to no changes required
4.| Extent to which the customer is satisfied by competing products that are already available| Very satisfied| Moderately satisfied (+0)| Not very satisfied or ambivalent | 5.| Degree to which the idea requires customers to change their basic practices or behaviors| Substantial changes required| Moderate changes required (+0)| Small to no changes required| Score +3

The strength of the business idea captures the positive aspects of this new internet-based venture. At the time, wireless cameras were just becoming available in the UK and internet sales were just gaining popularity among consumers. Consequently, this new venture fills a gap in the market place while taking advantage of consumer trends. The timeline to entry this market is advantageous because people is just getting used to making purchases online, so the potential for future sales is remarkable. In addition, this idea adds value to end users since current products lack aesthetics, functionality, and user-friendly software to use the cameras remotely over the Internet. So customer satisfaction could be increased by offering these features. Although some customer practices – like buying online and monitoring their cameras over the Internet – will have to change, it will be a change for the better. For these reasons, the potential of this new business venture is noteworthy.

Part 2: Industry-related issues
| | Low Potential (-1)| Moderate Potential (0)| High Potential (+1)| 1.| Number of competitors| Few (0)

Many| Few| None|
2.| Stage of industry life cycle | Growth phase (0)
Maturity phase or decline phase| Growth phase| Strong growth (+1) Emergence phase|
3.| Growth rate of industry| “Would like to have” (0) Little or no growth| Moderate growth| |
4.| Importance of industry’s products and/or services to customers| “Ambivalent” | | High (+1) “Must have”|
5.| Industry operating margins| Low| Moderate| |
Score +2
Competition in this market and industry is not high at the moment, since wireless video cameras are just becoming know in the UK and are not very available to customers. There are some other associated products, but do not offer the same features or are as easy to use and install as this one, which will give it an edge over its competitors. Moreover, Peter has found the right partner with experience in this industry to further increase the chance of success. Thus, the potential for growth in this industry is encouraging. In addition, this new venture will make us of the Internet to reach buyers. This is very important to note, as for the time, this is a product that not many people have it at home or in stores. In other words, people who would like to get it would be able to find it just by searching online and be able to purchase it at a lower price than in local stores. With an increasing trend of online buying, the operating margins for this industry could be very high. Part 3: Target market and customer-related issues

| | Low Potential (-1)| Moderate Potential (0)| High Potential (+1)| 1.| Identification of target market for the proposed new venture| Difficult to identify| May or may not be able to create Identified (+1)

May be able to identify| |
2.| Ability to create “barriers to entry” for potential competitors| Unable to...
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